How New Tariffs Could Impact Prices in Shreveport and Beyond

Inflation has been the key reason behind the rising cost of living over the last several years, especially here in Louisiana. President Trump's new tariffs are seen by some as a risky move that could send a jolt into the economy if everything goes according to plan, but until then, prices are likely to rise.

When the tariffs kick in, how will it feel for us here in cities like Shreveport?

What Will Tariffs Make More Expensive?

Unless you've been living under a rock you've probably heard that tariffs are going to make things more expensive, and that's exactly correct.

What things will be more expensive? Well, everything.

President Trump's tariffs place a tax on all goods imported to the U.S.
Any product made in China, Canada, Mexico, or anywhere else for that matter will now be tariffed at a minimum rate of 10%.

Products made in America aren't touched by these taxes so they'll stay cheaper. But the reason everything will become more expensive in response to tariffs is that many products just aren't made in America.

How Will These Tariffs Make American Products More Expensive

The price of cars is already on the rise in response to the tariffs.

Currently, most American cars are only assembled in the U.S., most of the parts are made in a factory overseas and then shipped to America to be assembled. Those assembly parts will now cost more, making even American cars more expensive.

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On top of the assembly costs scarcity of cars will be a problem. During the shutdown 5 years ago the vehicle market saw a spike in costs because new vehicles weren't making it to the market, making the few cars available for sale more expensive.

When tariffs make new imported cars more expensive customers are more likely to opt for a more affordable used car, leading to used cars becoming more sought after, and more expensive.

All products, even made in America, will feel a trickle-down effect until we can start manufacturing everything in America. Hopefully, the economy will swing back before the tariffs hit us all too hard.